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Informist, Thursday, Apr. 23, 2026

 

By Simran Rede

 

MUMBAI – The Indian equity market fell for a second straight session Thursday, weighed down by rising crude oil prices after US President Donald Trump decided to continue the blockade in the Strait of Hormuz. A day after Trump extended the ceasefire, Iran fired on three ships in the Strait and seized two, raising concerns of an escalation in the war in West Asia. Traders added bearish bets in the Nifty 50 derivatives chain as bears took over in the cash market.

The Nifty 50 is expected to extend losses Friday if crude oil prices remain above $100 per barrel, analysts said. The June Brent crude futures contract rose for a fourth consecutive day Thursday, up 1.4% at $103.34 per barrel at 1617 IST. After a roller-coaster ride in March and April, the Nifty 50 remains about 4?low the pre-war levels. 

 

Thursday, the Nifty 50 ended at 24173.05 points, down 205.05 points or 0.8% and the BSE Sensex closed at 77664 points, down 852.49 points or 1.1%. Friday, the 50-stock index is expected to face immediate resistance at 24300 points and find support at 24000-23900 points, according to technical analysts.

 

Premiums on call options 24500-25200, which are up to 1-4% higher than the spot level, fell over 60% and those on put contracts 24100-2370 rose 14-36%. The maximum open interest additions were in 24200 call and 23000 put options. The maximum concentration of open interest was in 26000 call and 23000 put contracts. 

 

Traders also added bearish bets to the futures series of the Nifty 50. The April futures of the Nifty 50 closed 0.9% lower at 24166 points, a discount of 7.05 points to the spot level. The open interest in the contract fell 4.6% to 15.48 million. The May and June contracts closed 1% lower each and open interest rose around 62% and 7% to 5 million and 1 million, respectively. 

 

--Nifty 50 April closed at 24166.00, down 215.20 points; 7.05-point discount to the spot index

--Nifty 50 May closed at 24265.00, down 245.40 points; 91.95-point premium to the spot index

--Nifty 50 June closed at 24412.00, down 241.60 points; 238.95-point premium to the spot index

 

HDFC Bank, Infosys, ICICI Bank, Reliance Industries, Tata Consultancy Services, Trent, HCL Technologies, Dr. Reddy's Laboratories, Axis Bank, State Bank of India, Bajaj Finance, Union Bank, Bharti Airtel, Wipro, Mahindra & Mahindra, Kotak Mahindra Bank, Jio Financial Services, Hindustan Unilever, and Dixon Technologies (India) were the most actively traded underlying stocks Thursday.  End

 

US$1 = INR 94.10

 

Edited by Saji George Titus

 

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